Yikes! GATA's message breaks through

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11a ET Wednesday, August 30, 2006

Dear Friend of GATA and Gold:

The years of work of one of GATA's Australian supporters and publicists, Sid Reynolds, paid off hugely today with his persuasion of FNArena.com's Greg Peel to examine at length some details of the international gold price suppression scheme. Peel did just that in a long essay at FNArena, and, startlingly, TheBullionDesk.com, never terribly interested in GATA's work, has made Peel's essay its lead story at this hour.

Resource Investor takes another look at Barrick's bid for NovaGold

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1:32a ET Wednesday, August 30, 2006

Dear Friend of GATA and Gold:

Resource Investor's Jon A. Nones has updated the situation with Barrick's attempt to acquire NovaGold, what with more lawsuits and a new valuation of the junior miner, which Resource Investor puts at as much as $73 per share. NovaGold closed Tuesday at $17.50. (Sweet dreams!)

You can find Nones' report here:

http://www.resourceinvestor.com/pebble.asp?relid=23243

China reported ready to widen yuan's trading range

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From AFX News via Forbes
Tuesday, August 29, 2006

http://www.forbes.com/markets/feeds/afx/2006/08/29/afx2981348.html

SHANGHAI -- China's central bank may widen the daily trading band of the yuan against the dollar to increase the flexibity of its exchange rate, the China Securities Journal reported in a front-page story, citing analysts.

Currently, the People's Bank of China allows the currency to move 0.3 percent on either side of the central parity set before start of trading every day.

Peru negotiates end to siege at Yanacocha gold mine

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Farmers Reach Deal
Over Peru Gold Mine

By Carla Salazar
Associated Press
Wednesday, August 30, 2006

http://biz.yahoo.com/ap/060830/peru_gold_mine.html?.v=1

LIMA, Peru -- Latin America's largest gold mine and protesting farmers reached a government-brokered agreement late Tuesday to end a six-day roadblock that prompted a 24-hour shutdown of operations.

Peru's presidential Cabinet chief, Jorge Del Castillo, announced the deal to lift the roadblock Wednesday and immediately resume gold production at the Yanacocha gold mine, majority owned by Denver-based Newmont Mining Corp.

GoldSeek's Peter Spina: U.S. must sacrifice the dollar or the economy

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Gold Tallies Two-Day Loss
of More Than $11

Price Climbs in Electronic Session
After Fed Minutes;
Metals Index Up Slightly

By Myra P. Saefong
CBSMarketWatch.com
Tuesday, August 29, 2006

http://www.marketwatch.com/News/Story/Story.aspx?column=Metals+Stocks&si...

SAN FRANCISCO -- Gold futures fell in tandem with oil Tuesday to tally a two-day loss of more than $11 an ounce, then moved higher in the electronic trading session as investors weighed the prospects for metals demand and mulled the minutes from the Aug. 8 Federal Reserve monetary policy meeting.

More 'experts' are mystified

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They must never have heard of the gold price suppression scheme, nor even of derivatives in the bond and oil markets.

* * *

What Crisis? Oil, Gold, Stocks
Show Investors Ignore World Risk

By Michael R. Sesit
Bloomberg News Service
Monday, August 28, 2006

http://www.bloomberg.com/apps/news?pid=20601100&sid=agYt1SK7yvdY

PARIS -- What you know can help you -- unless you ignore it, which appears to be how investors are treating growing risks of war, terrorism, and political unrest.

MineWeb: Gold and copper hedges slash into Newcrest's profits

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8:52p ET Monday, August 28, 2006

Dear Friend of GATA and Gold:

MineWeb reports that the most recent financial results of the big Australian mining company, Newcrest, are poor, despite the boom in the metals, because of hedging. MineWeb says:

"The prime reason for the company’s relatively poor ongoing performance in a time of much higher gold and copper prices has been the impact of its forward sales contracts. Newcrest received only Aus$564 an ounce for its gold during the year, compared with the Aus$708 average spot price over the same period. Similarly, its less significant copper sales were achieved at Aus$2.22/lb as against a $3.69/lb average on the open market."

James Turk: Heed the wake-up call

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8:30p ET Monday, August 28, 2006

Dear Friend of GATA and Gold:

The failure of the Refco brokerage house and the nickel contract of the London Metals Exchange are reminders of the huge difference between owning metal and owning only someone's promise to deliver metal, GoldMoney founder and GATA consultant James Turk writes. You can find his new commentary, "Wake-Up Call," in the "Founder's Commentary" box at the top left of the GoldMoney home page here:

Ted Butler: China is trying to talk silver down

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7p ET Sunday, August 27, 2006

Dear Friend of GATA and Gold:

Silver market analyst Ted Butler is interviewed by Jim Cook of Investment Rarities at GoldSeek's companion site, SilverSeek, and says China is trying to talk the price of silver down. He says a lot of other interesting things too, and you can find them in "Interview With Ted Butler" here:

http://news.silverseek.com/TedButler/1156534717.php

Japan is back in the free-credit, dollar-bailout business

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Yen Slumps Most in Nine Months as Interest-Rate Trades Resume

By Chris Young
Bloomberg News Service
Monday, August 28, 2006

http://www.bloomberg.com/apps/news?pid=20601087&sid=akqB.r6N6VPE&refer=h...

SYDNEY, Australia -- The yen is heading for its worst month against the dollar since November as investors take advantage of Japan's low interest rates to finance trades in higher-yielding assets.